What Trump’s election could mean for Canadian rates and the loonie – National

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What Trump’s election could mean for ********* rates and the loonie – National

By Rosa Saba

The ********* Press

Posted November 8, 2024 8:18 am

1 min read

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Experts say Donald Trump’s election victory could shift interest rate policy in the U.S. as his promised policies risk higher inflation, which could ultimately have implications for ********* rates and the loonie.

Markets rallied Wednesday and into Thursday in the wake of his victory as investors prepared for what his proposals might bring.

Among those promises are large tariffs on imported goods, especially from China, as well as lower tax rates and lighter regulation.

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Economist Sheila Block says the large tariffs proposed by Trump would likely put upward pressure on inflation in the U.S.

Higher inflation would mean the U.S. Federal Reserve could be slower to cut interest rates, and markets are already shifting their bets on how low the central bank is likely to go on rates.

Block says a weaker ********* dollar could in turn be inflationary north of the border, which could make our central bank more hesitant to cut rates too quickly.

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What economic impacts the U.S. election could have on Canada

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